National Bank of Canada FI Buys 226,908 Shares of Vulcan Materials Company (NYSE:VMC)

Key Points

• National Bank of Canada FI significantly increased its stake in Vulcan Materials by 310.6% in the first quarter, owning approximately 0.23% of the company now.
• Vulcan Materials reported earnings of $2.45 EPS, which missed estimates of $2.65, while quarterly revenue increased by 4.4% year-over-year.
• The company announced a quarterly dividend of $0.49 per share, reflecting an annualized yield of 0.7% with a payout ratio of 27.37%.

National Bank of Canada FI increased its position in shares of Vulcan Materials Company (NYSE:VMC - Free Report) by 310.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 299,954 shares of the construction company's stock after purchasing an additional 226,908 shares during the quarter. National Bank of Canada FI owned approximately 0.23% of Vulcan Materials worth $69,979,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its position in Vulcan Materials by 21.0% in the first quarter. Golden State Wealth Management LLC now owns 951 shares of the construction company's stock worth $222,000 after acquiring an additional 165 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Vulcan Materials by 42.1% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,798 shares of the construction company's stock worth $3,686,000 after acquiring an additional 4,678 shares during the period. Exchange Traded Concepts LLC raised its position in Vulcan Materials by 24.3% in the first quarter. Exchange Traded Concepts LLC now owns 921 shares of the construction company's stock worth $215,000 after acquiring an additional 180 shares during the period. GAMMA Investing LLC raised its position in Vulcan Materials by 27.2% in the first quarter. GAMMA Investing LLC now owns 1,706 shares of the construction company's stock worth $398,000 after acquiring an additional 365 shares during the period. Finally, Wellington Management Group LLP raised its position in Vulcan Materials by 5.6% in the fourth quarter. Wellington Management Group LLP now owns 969 shares of the construction company's stock worth $249,000 after acquiring an additional 51 shares during the period. Institutional investors own 90.39% of the company's stock.

Vulcan Materials Price Performance

VMC stock traded up $6.96 during midday trading on Tuesday, reaching $292.20. The company had a trading volume of 1,070,324 shares, compared to its average volume of 1,063,796. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.67 and a quick ratio of 1.13. Vulcan Materials Company has a 1 year low of $215.08 and a 1 year high of $298.31. The company has a market capitalization of $38.61 billion, a P/E ratio of 40.81, a P/E/G ratio of 2.34 and a beta of 0.83. The firm has a 50-day moving average price of $267.50 and a 200-day moving average price of $257.88.

Vulcan Materials (NYSE:VMC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The construction company reported $2.45 EPS for the quarter, missing analysts' consensus estimates of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%. The company had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same period in the prior year, the firm earned $2.35 EPS. Vulcan Materials's quarterly revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Vulcan Materials Company will post 8.69 earnings per share for the current fiscal year.

Vulcan Materials Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 3rd. Stockholders of record on Thursday, August 14th will be paid a $0.49 dividend. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.7%. Vulcan Materials's dividend payout ratio is 27.37%.

Insider Activity

In other Vulcan Materials news, SVP David P. Clement sold 1,500 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $270.00, for a total value of $405,000.00. Following the completion of the transaction, the senior vice president directly owned 2,832 shares in the company, valued at approximately $764,640. This represents a 34.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.61% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on VMC. Stephens set a $315.00 price objective on shares of Vulcan Materials and gave the stock an "overweight" rating in a research report on Thursday, May 1st. Stifel Nicolaus lifted their price objective on shares of Vulcan Materials from $287.00 to $309.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. UBS Group raised shares of Vulcan Materials from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $280.00 to $318.00 in a research report on Friday, May 16th. Argus raised shares of Vulcan Materials to a "strong-buy" rating in a research report on Thursday, April 24th. Finally, Raymond James Financial lowered their price target on shares of Vulcan Materials from $300.00 to $295.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 29th. Three research analysts have rated the stock with a hold rating, ten have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $304.27.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.